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News Breaks
February 6, 2013
18:09 EDTAINAlbany International reports Q4 EPS 26c, consensus 31c
Reports revenue $194.3M, consensus $174.44M.
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January 25, 2016
08:02 EDTAINAlbany International in talks cease R&D activities in Selestat, France
In a regulatory filing, Albany International disclosed that its subsidiary, Albany International France S.A.S., initiated discussions with the employee Works Council regarding a proposal to cease R&D activities at the company's production facility in Selestat, France. The proposed measures would result in the elimination of 25 positions, including three vacancies, and the departure of 22 employees. Continuing R&D projects currently conducted at the Selestat facility will be transferred to the company's R&D center in Halmstad, Sweden. Works Council consultations will be completed in accordance with applicable French law. Until such consultations are concluded, the company is unable to reasonably estimate the costs it would expect to incur in connection with the proposed action. The company will disclose the amount, type and timing of such costs promptly after they are determined, Albany International said.

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